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RESOLUTION DECLARING COST TO BE ASSESSED AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />CARLA LANE <br />IMPROVEMENT NO. 2005-01 <br />WHEREAS, <br />Contracts have been let for the improvement of Carla Lane by street reconstruction, <br />concrete curb and gutter, water main, and drainage enhancements and the price for such <br />improvement is estimated at $568,206 and the expenses incurred in making of such <br />improvement are estimated at $85,230 so that the total cost of the improvement is <br />estimated at $653,436. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LITTLE <br />CANADA, MINNESOTA <br />3kI(3 >A7 <br />1. The portion of the cost of such improvement to be paid by the City is hereby <br />declared to be $395;66-3"07 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $308.063.07. <br />2. Assessments shall be payable in equal annual installments extending over a period <br />of ten years, the first of the installments to be payable on or before the first <br />Monday in January, 2006, and shall bear interest at the rate of five and three - <br />quarters percent per annum (5.75 %) from the date of the adoption of the <br />assessment resolution. <br />3. The City Administrator, with the assistance of the City Engineer shall forthwith <br />calculate the proper amount to be specially assessed for such improvement against <br />every assessable lot, piece or parcel of land within the district affected, without <br />regard to cash valuation, as provided by law, and he shall file a copy of such <br />proposed assessment in his office for public inspection. <br />4. The City Administrator shall upon the completion of such proposed assessment, <br />notify the Council thereof. <br />Adopted by the Council this 28th day of September, 2005. <br />Attest: <br />William Blesener, Mayor <br />Joel R. Hanson, City Administrator <br />- 1 3 - <br />